WASHINGTON - Consumer credit increased by $17.8 billion, or 8.6%, in January to $2.512.3 trillion, the Federal Reserve reported Wednesday.
In December, consumer credit rose a revised $16.3 billion, or 7.9%, to $2.494.5 trillion.
Revolving credit fell to $800.9 billion from $803.8 billion.
Non-revolving credit rose to $1.711.4 trillion from $1.690.7 trillion.
The increase exceeds the $10.00 billion increase projected by economists polled by Thomson Reuters.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
